NYT called the conflict in the Middle East an economic disaster for Europe

The conflict in the Middle East has become an economic disaster for most of Europe. German political scientist Claudia Mayor wrote about this in an article for The New York Times (NYT) on May 7.

"The war in Iran turned into an economic disaster for most of Europe," the article says.

The expert noted that the complete closure of the Strait of Hormuz, through which almost 20 percent of oil and gas exports were carried out, led to an increase in fuel prices, inflation and a slowdown in economic growth. The major noted that the German government has reduced the forecast of economic development by almost half.

Passing on the fare: Europe and China have become more likely to trade in transit through the Russian Federation

How is this possible in the era of sanctions and what investments can Russia attract?

The Wall Street Journal (WSJ). On April 30, it reported that the eurozone economy slowed growth in the first quarter amid a spike in energy prices caused by the conflict in the Middle East. The eurozone's gross domestic product grew by 0.1% in the first quarter, which is lower than the projected 0.2% growth in the last three months of 2025.

In addition, the head of the European Council, Antonio Costa, said on April 24 that the crisis in the Middle East was having a slowing effect on the growth of the EU economy. The consequences of the same event, he said, have a direct impact on the lives of ordinary Europeans.